08:37 Gapping Up
In reaction to strong earnings/guidance: FREE +18.7%, LFT +7.6%, FRO +7.3%, DMND +7.2%, SAFM +4.7%, CWTR +4.6%, JAS +3.7%... Select small-cap pharma stocks showing strength: ANPI +25% (continued gains following yesterday's 45% surge on FDA news), EXEL +23.0% (announces a global license agreement with Sanofi Aventis for XL147 and XL765 and a collaboration for the discovery of inhibitors of phosphoinositide-3 kinase for the treatment of cancer), PARD +13.8% (announces "positive" efficacy and safety data from Phase 2 clinical trial of picoplatin in men with metastatic prostate cancer), OCLS +12.0% (continued momentum following yesterday's 240% gain), OGXI +10% (light volume), VNDA +4.7%... Other news: DRYS +5.6% (announces it has reached agreement with Deutsche Bank as lender and mandated lead arranger on waiver terms for $1.125 bln of debt), FIG +3.9% (FT reports the co is nearing an agreement that would mark the first step in a push into US retail banking, according to people familiar with the transaction), GLW +2.7% (raises 2Q LCD volume expectations), TWX +0.8% (confirms plan to separate AOL)... Analyst comments: KMX +8.9% (upgraded to Buy at Deutsche Securities; tgt raised to $15), SNDK +3.7% (upgraded to Buy from Neutral at Goldman- Reuters), SATC +7.8% (initiated with a Buy at Wunderlich, tgt $4).
"2 Mice" Galaxies Pulling One Another Apart
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